The SFC was concerned that ArcelorMittal had been acting in concert with Mr Han for months and was, therefore, obliged to make a general offer for minorities' 27 per cent interest in China Oriental. It referred the matter to the territory's seldomconvened Takeovers Panel, which could not care less about ArcelorMittal's delicate regulatory dance north of the border, and duly forced the company to make an unconditional general offer to China Oriental's Hong Kong minorities. So while awaiting Chinese government approval to take a controlling 73 per cent interest in China Oriental, ArcelorMittal is also proceeding with another deal that would give it an equally controlling 55 per cent of the company. No word back yet from China's regulators, who have a month to rule. Leslie Van sometimes takes with him on his travels a James Bondstyle attach case with a foam interior, moulded to accommodate his weapons. In place of 007's Walther PPK and accessories, the chief executive of Rexam packs an array of the company's products hightech perfume, cosmetic and beverage dispensers that Q himself would be happy to have designed.
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